If you're a business, you're going to need some way to set up your organization so that it functions properly. Organizing a company can be an expensive venture, one that requires multiple departments (payroll, accounting, shareholder voting, etc) that generally require someone to be paid and infrastructure software to be designed in exchange for creating or maintaining these fundamental necessities of the company.

Aragon is here to change all that. Aragon is an Ethereum-based decentralized app that provides all the tools necessary to run an organization, using the Ethereum blockchain as the ledger that keeps everything secure and records immutable.

With this guide, you'll get acquainted with what Aragon is, how it works, and whether its the right platform for you.

The Problem With Blockchains

Right now, blockchain technology is something that a lot of companies may want to use, but which presents some serious obstacles. First off, it's a specialized subject, meaning most companies don't have anyone on their team that understands how it works. All the things that go along with business-oriented blockchain solutions, like dapps and smart contracts and tokens, will therefore be like foreign languages to them.

There's also the vagaries of programming things like smart contracts which, if not fully-understood, could lead to things like breaches and bugs that may compromise transactions (or the network as a whole).

To make things even easier for businesses, Aragon is even going out of their way to come up with ways for companies to have additional ways to seek recompense and negotiations outside of smart contracts, if things don't go off as planned.

Aragon's Ease-of-Use

The central features of Aragon are based in modules that can be used, ignored, or combined for a customizable business organization solution.

One module allows configurations for user access and identity, to make sure that certain areas of the business can only be accessed by certain individuals, and that those individuals' identities can be verified securely and efficiently.

You can also implement modules that allow you to do fundraising (via Ethereum-based tokens) and create accounts for both paying and receiving.

All of these features are fundamental to how a company works, and can be customized to the company's needs.

Aragon's Features

Not only can companies take advantage of the modules that Aragon provides, they can also add on to the functions of existing Aragon modules – and even develop their own. They can edit the properties of any existing core module to suit their needs, to the point of making it entirely calibrated for their uses only.

Aragon plans to take their software to the next level if it ends up proving useful, including uses like casting electoral ballets, paying contractors, and visual presentations of data analysis.

An Online Court System?

One goal Aragon has is to create a sort of decentralized court system intend to solve individual disputes within the Aragon network. Disputes would be brought before randomly-selected volunteer Judges, who would then go over the basic rules and laws involved. All five Judges would then come to an agreement and make a ruling.

By decentralizing the arbitration process, Aragon is creating a way for a “court” system that is free of bias and can't be gamed to anyone's advantage.

The Foundation

Right now, the project depends on the work of the Aragon Foundation to get things moving. However, this is a decentralized service. As a result, the Aragon Foundation intends to somehow either abdicate its authority over the Aragon Network, or even dissolve. This would leave the direction of Aragon entirely within the judgments of its users, creating a democratic and user-run experience.

Who gets to vote on those issues? People who possess ANT, the native token.

The ANT

ANT tokens give people a say in how things are run or governed on the ANT Network. They represent a person's “stake” in the platform, and the reward is commensurate – you invest in the platform, you get to have a say in what happens. Just like a shareholder.

The Aragon ICO happened in May of 2017, and was so successful that in only 15 minutes they raised $24 million.

Unlike many other currencies we've looked at, ANT hasn't had very dramatic ups and downs (except in early January, when it jumped from about $3 to around $7). While it's fluctuated slightly, it's mainly stayed between $3 and $5.

Buying ANT

You can buy ANT most anywhere where crypto is sold, as most major exchanges carry it. Unless you have Bitcoin or Ethereum (or any other cryptocurrency) however, you're not going to be able to buy it directly. Right now, no fiat-compatible exchange carries it, so you'd have to buy some Bitcoin or Ethereum first and then go to an exchange like Bittrex, EtherDelta, or HitBTC to get your hands on it.

Storing ANT

ANT is an ERC-20 token, meaning it runs on the ERC-20 protocol. As such, you can store it in any wallet that works with tokens that follow that protocol. That includes MyEtherWallet, the most popular online wallet for crypto. You can also store it on a Ledger Nano S or Trezor, two hardware wallets that can be unplugged from the internet for more security. They do cost money, though, while MyEtherWallet is free.

The Aragon Team

This project is run by the Aragon Foundation at the moment, but it's still an open-source project. No one person runs the show. That being said, the “lead” is Luis Cuende, a young developer with multiple awards to his name and achievements that run the gamut from advising the European Commission to creating key innovations with Linux.

Eventually, like we said before, the platform will have no central leader, and will be run solely by owners of ANT.

The Future of Aragon

Aragon isn't finished yet. Right now they're still in alpha, with a plan to do a private beta in February of 2018. They intend to release more features (including their “Court” feature) later in 2018, with the main network being finally unveiled at the end of 2018 (Q4). The final release, according to their development plan, should include new features like updated governance techniques and zkSnarks for added piovacy and anonymity with transactions.

Aragon vs Ethereum

Aragon is technically built on the Ethereum blockchain, so at their foundation they're mostly the same. Both of them are platforms that encourage development, as both provide tools to developers to create apps that work with their blockchains. Both work with things like smart contracts, although Aragon offers ways to extend and modify their base dapps, while Ethereum is more focused on letting people program their own dapps. Aragon is intended as a business organization platform, while Ethereum is intended to be used for any sort of setup, whether it be for businesses, individuals, or just as a way to send and receive ether for personal profit. Ethereum has been around for a few years while Aragon is newer, but once Aragon is fully-launched we'll be able to see which offers the better capabilities.

Aragon vs EOS

Both of these platforms are blockchain-based networks that aim to improve commerce and provide business solutions. Aragon is focused on creating a platform environment for businesses to use blockchain technology to create and run their organization. Ripple on the other hand is primarily a payment and transaction system, using their native currency as a liquid asset for cheaper and faster exchanges of assets. Aragon's currency ANT, on the other hand, is mostly a token that represents a person's stake in the network and gives them voting privileges. Ripple has a focus on scalability, while Aragon seems to focus more on smaller organizations. Aragon is set up to be decentralized as much as possible, while Ripple seems more centralized. Ripple is already fully operational, however, while Aragon is still in its adolescence as a platform.

Frequently Asked Questions

Is Aragon like Ethereum?
Aragon is based on the Ethereum blockchain, so yes, they're very similar technically.

What is the Aragon token?
It's called the ANT, and it represents a stake in the network and gives voting power.

Is Aragon “crypto”?
It's a token that's traded on crypto exchanges, so yes, technically it could be considered one.

When was the Aragon ICO?
May, 2017.

Does Aragon have its own cryptocurrency?
In a way, yes, Aragon's token is considered a cryptocurrency.

Is Aragon a coin?
Aragon's currency, ANT, is more of a token than a “coin,” since it's not meant mainly for buying or selling.

How do I buy Aragon?
You can go to one of the exchanges selling it (like HitBTC, Bittrex, or IDEX) and buy it (with crypto like BTC or ETH).

Is Aragon on Reddit?
Yes, it has a community there.

What's the price prediction for Aragon?
It's been relatively stable, but could go up once more of its features go live.

Is Aragon “ANT”?
Yes, that's the term for its native token.

What does Reddit think of the Aragon coin?There are different perspectives, but you can check it out for yourself.

What is the price of Aragon coin?
Around $3.81, last we checked.

Conclusion

Right now, blockchain technology is still a specialized field. There are no schools for it, and a relatively-small subset of developers even know how it works, much less how to program for it. But the truth is that despite its relative newness, it's already shown that it has a lot to offer not only people, but businesses, largely thanks to the security and immutability of its blockchain. But to get onboard, most companies don't know where to start.

That's likely to change with Aragon. Aragon is here to offer companies not just an introduction to blockchain, but tools they can use to either integrate as much of their operations as they want with the blockchain, or even start a new business from scratch. With the endless customizability it offers, as well as the possible future uses it has for things like election polls and unbiased online arbitration, Aragon could end up having a serious and lasting impact on the blockchain community and the world at large.

Share this story, Choose Your Platform!

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

Get the best of About VKool in your box.Get the best of About VKool in your box.

Advertising Disclosure

Displayed content is offered by businesses which have been compensated. There is a potential effect on how, what, and where products may appear. All effort is made into providing full transparency, not all available products or companies are highlighted. Published material is offered without any slant or bias no matter what affiliation there is with sponsorship or association.